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Malaysian benchmark crude palm oil spot prices rose quickly to about USD1,100/tonne in July 2021 after falling below USD900/t in June. Prices have stayed near that level.
The move was attributed mainly to a sustained labour shortage and weak output in Malaysia.
Weak output and labour shortages keep palm oil supply tight, supporting vegetable oil and palm-based feed ingredient prices. Buyers should expect firm pricing while output remains constrained.
businesstoday.com.mySep 26, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
